Page 60 - Michigan City, IN US Highway 421 Corridor Plan

$ 3.3 Corridor Redevelopment Goals, Principles and Strategies

Goal 3.3.5: Foster a Diverse Business It should be recognized that the 421 Gateway District is located
Climate within a regional context composed of several communities Pulse Nodes of Development
and a local context composed of distinct neighborhoods with
The strength and vitality of business activity along the different populations, incomes, growth rates, and levels of
thoroughfares within the 421 Gateway District is of paramount access. These differences should lead to wide variations in
concern to the Michigan City Redevelopment Commission. activity and character along different parts of the 421 Gateway
Finding ways through which to improve the business climate District. Understand the complex interplay between land values, 421 421
within the 421 Gateway District will require multiple strategies densities, market demographics, access, demand for different
as well as coordination and integration with transportation types of retail offerings, and the level of competition within Single-Family Residential
and appearance recommendations. Use the range of public the 421 Gateway District, build upon the position that the and Open Space Zone
development implementation tools such as tax increment Corridor holds in the regional hierarchy of retail locations, and Higher-Density,
financing (TIF), transfer of development rights, business be reasonable about what is economically feasible, which will Mixed-Use Zone
improvement districts, tax abatement policies, urban design change over time.
guidelines, vertical zoning, and accelerated approval of
development projects to achieve the “pulse points” of live/work, C. Prune Back Retail-Zoned Land
high-value community development.
Retail-zoned land should be scaled to reflect a realistic
Principles assessment of the size, strength, and character of the market. 20
Strategies for the future of the corridor should encourage Node 1
A. Anticipate Evolution (ULI) multiple uses not focused on retail. Reserve some of the
previously zoned retail land for housing, office space, civic uses,
recreational facilities, and open space. Re-structure zoning to
The 421 Gateway District should be managed to respond
to changing consumer preferences and adapt to emerging encourage denser forms of development that can be reached
lifestyles. It is important to determine the shopping patterns by multiple access modes. On remaining retail-zoned land,
of the market in order to set reasonable expectations about stimulate infill, new forms of mixed-use, and pedestrian-oriented
how they are likely to evolve. As new community and regional retail development To prevent sprawl and congestion, limit the Lower-Density,
trends emerge, adopt measures to prevent the 421 Gateway extension of utilities infrastructure until existing infrastructure Mixed-Use, and
District from becoming obsolete with out-of-date retail concepts begins to reach capacity. Open Space Zone
and products. For example, an enduring trend that continues
to remain current is the development of mixed-use, lifestyle Strategies
centers can provide attractive, convenient, and stylish retail
environments for residents and a captive market for retailers.
Providing a sense of place and community by developing A. Establish Pulse Nodes of Development.
amenities such as parks and public gathering places;
programming entertainment, recreational and cultural activities; Within the 421 Gateway District use key intersections or major Node 2 400
and providing a more livable environment through fostering transit stops to create cores of development that are unique
new and diverse housing products will ensure the 421 Gateway points of reference; nodes of intense activity; and places that are
District’s success. friendly, attractive, and walkable, but that differ from each other
in character, development intensity, function, or purpose. Create
B. Know the Market (ULI) centers by solving for the places in between (as illustrated in
Figure 3.6, Pulse Nodes of Development).
As discussed in Section 2.2, Market Profile, planning for Higher-Density,
the future of the 421 Gateway District will require that the Actions and Initiatives Mixed-Use Zone
community understands its market potential and the specific 1. Plan and zone higher densities in these nodes of Single-Family Residential
market forces that are at work within the community and region. development to facilitate vertical mixed use of three or more and Open Space Zone
Maintain an up-to-date market profile in order to assess where stories and to achieve pedestrian concentrations that create
the 421 Gateway District fits in the overall retail continuum, i.e., a lively, safe, attractive, and entertaining streetscape.
its level of maturity in the marketplace relative to other retail 2. Direct public investments and site public facilities in the higher-
destinations, and the amount and nature of the competition.
density zones to raise surrounding property values and encourage
higher-value land uses within the zone; as well as to serve as Figure 3.6, Pulse Nodes of Development
anchors and inducements for spin-off private investment.
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3.0 Envision 421 Gateway District Adopted: August 16, 2016